Latest news with #EgyptMiningForum2025
See - Sada Elbalad
4 days ago
- Business
- See - Sada Elbalad
Egypt, ATON Resources Sign Preliminary Agreement to Amend Abu Marawat Concession Terms
Ahmed Emam On the sidelines of the Egypt Mining Forum 2025, Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of a preliminary agreement to study the amendment of the Abu Marawat concession agreement. The proposed amendments aim to allow ATON Resources Inc. to increase its foreign investment in the concession areas, thereby enhancing returns for the Egyptian state. The concession, originally issued under Law No. 96 of 2007, is located in Egypt's Eastern Desert and is considered a promising site for gold and mineral exploration. The agreement is a direct result of the Letter of Intent previously signed in London between the Ministry of Petroleum and Mineral Resources and ATON Resources Inc. (formerly Alexander Nubia) during the Egypt-UK Business Day. Signing the agreement were Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority (EMRA), Dr. Mohamed El-Bagoury, Head of the Central Legal Affairs Department, and Tonno Vahk, CEO of ATON Resources Inc. This step reflects the government's ongoing efforts to attract more foreign investment into the mining sector and create a more flexible and investor-friendly legislative environment while ensuring the state receives a fair share of revenues. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Daily News Egypt
5 days ago
- Business
- Daily News Egypt
GAFI chief highlights tax incentives, licensing reforms to boost mining investment
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), affirmed that Egypt's strategy to raise the mining sector's contribution to 5% of GDP focuses on deepening industrial capacity, establishing value-added chains within mining industries, and expanding logistics services, including shipping, transport, storage, and supply chain management. His remarks came during the Egypt Mining Forum 2025, held under the auspices of the Ministry of Petroleum and Mineral Resources, with the participation of prominent local and international stakeholders. Heiba emphasised that the mining sector has long represented a strategic partnership between the government and the private sector. In recent years, the Egyptian government has prioritised enhancing the sector's competitiveness through targeted investment incentives and infrastructure development, recognising the country's significant mineral potential. The GAFI chief detailed the incentives offered under the Investment Law for mining institutions, most notably the right to recover up to 50% of investment costs via tax deductions over a period of seven years from the project's commencement. Furthermore, mining projects can apply for the Golden Licence, which consolidates all required approvals and permits into a single licence issued within just 20 working days. Heiba also highlighted a range of investment systems tailored to mining projects, including special free zones and dedicated investment zones, which enable investors to complete all licensing procedures in one location. He noted that GAFI now hosts Egypt's digital company registration platform and the unified investment licensing platform, adding that the digitisation of services has significantly streamlined processes and supported growth in the mining sector in recent years.
Zawya
5 days ago
- Business
- Zawya
Petroleum Ministry signs mine exploitation deal with Centamin at Egypt Mining Forum
Arab Finance: The Ministry of Petroleum and Mineral Resources signed a mine exploitation agreement with the Mineral Resources and Mining Industries Authority and Centamin Central Mining, according to a statement. The signing, witnessed by Minister of Petroleum and Mineral Resources Karim Badawi, came on the sidelines of Egypt Mining Forum 2025, which kicked off in Cairo on July 15 th. The deal was signed by Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority, and Mohamed Kamal, Chairman of Centamin Central Mining. Meanwhile, the strategic partnership sets the stage for accelerated exploration, sustainable exploitation, and expanded cooperation to unlock Egypt's mineral potential. It also reflects the state's commitment to boosting responsible mineral development and attracting long-term investment into its mining sector. In his opening speech during the event, Badawi commented: 'Egypt is open to all forms of investment, with a particular focus on empowering Egyptian, regional and international investors.' 'We stand ready to allocate additional areas for exploration and prospecting across all mineral types, reaffirming our unwavering commitment to expanding growth opportunities within the mining sector,' he added. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Jordan News
5 days ago
- Business
- Jordan News
Regional mining cooperation 'key' to building sustainable sector-Kharabsheh - Jordan News
Minister of Energy and Mineral Resources, Dr. Saleh Kharabsheh, stressed the importance of regional cooperation and unified efforts to exploit shared geological formations. اضافة اعلان The minister made the remarks during his participation in Egypt Mining Forum 2025, which kicked off Tuesday, in the Egyptian capital, Cairo, and will continue for two days with broad regional and international participation from ministers, experts, and decision-makers in the mining sector. Kharabsheh noted many mineral-rich formations, mainly the Arabian-Nubian Shield (ANS), "do not recognize political borders and extend across several countries, including Egypt, Saudi Arabia, and Jordan." Talking to a ministerial panel discussion, themed: "Attracting Strategic Partners and Emerging Exploration Companies to Drive Long-Term Growth in the Mining Sector," Kharabsheh said the ministry signed a cooperation agreement with the Saudi Ministry of Industry and Mineral Resources to exchange information and study cross-border geological formations. Kharabsheh referred to a similar partnership with the Egyptian side, as part of efforts to maximize the benefits of these shared natural resources. According to a ministry statement, Kharabsheh pointed to Jordan's ambition to build transformative industries based on its national resources. The minister added that this approach "opens the door to integrated" projects that may rely on raw materials available in Saudi Arabia or Egypt, which would enhance opportunities for establishing mutual industries and provide an "attractive" environment for "major" companies seeking cross-border regional business opportunities. Kharabsheh noted regional cooperation in the mining field represents a "fundamental pillar" for building a "sustainable" sector to achieve shared economic growth, calling for continued coordination among Arab countries concerned with mineral resources to maximize the potential of available resources. During the session, attendees discussed the governments' role in providing an attractive and stable investment environment through clear regulations and guaranteed property rights, aimed at attracting capital and companies specializing in exploration and development. Hisham Zyoud, Director of the ministry's Mining Directorate, took part in a sub-panel discussion, titled "Beyond Gold: Base Metals and Critical Minerals in the Arabian-Nubian Shield," which discussed ways to transform the ANS's historically known gold-rich deposits into a major source of base metals and critical minerals that support the growing global demand for raw materials necessary for industrial and technological transformation. Participants stated the shield, which extends across Egypt, Sudan, Eritrea, Ethiopia, Saudi Arabia, and Jordan, is one of the oldest and richest geological regions in the world. The forum, which is a key platform for exchanging expertise and reviewing investment opportunities in the mining sector in the Arab region, reflects interest of the region's countries in developing their natural resources and enhancing their role in global mineral markets.
Daily News Egypt
6 days ago
- Business
- Daily News Egypt
Egypt signs strategic agreements to attract global investment in gold, mineral exploration
Minister of Petroleum and Mineral Resources Karim Badawi oversaw the signing of two key agreements with major international mining companies, reinforcing Egypt's commitment to expanding its mineral resource sector. The signings took place during the Egypt Mining Forum 2025, underscoring the government's efforts to attract foreign investment and deepen strategic partnerships in the mining industry. The first agreement is a licensing contract for the exploration of gold and associated minerals. It was signed by the Ministry of Petroleum and Mineral Resources, the Egyptian Mineral Resources Authority (EMRA), and Centamin Central, a subsidiary of AngloGold Ashanti. The second agreement marks the initialing of a framework agreement between the Ministry, EMRA, and global mining giant Barrick. This agreement lays the groundwork for expanded collaboration and exploration in Egypt's mining sector. Yasser Ramadan, Chairperson of EMRA, signed both agreements on behalf of the Egyptian government. The first was co-signed by Mohamed Kamal, Chairperson of Centamin Central for Mining. The second was co-signed by Mohamed El-Bagoury, Supervisor of the Central Department for Legal Affairs at the Ministry of Petroleum, and Henry Onslow, Director of Exploration for Egypt, Saudi Arabia, Africa, and the Middle East at Barrick. These agreements signal a significant step forward in positioning Egypt as a competitive and attractive destination for international mining investments.
